22 May 1989

12th plenary meeting

Permanent sovereignty over natural resources

The Economic and Social Council,

Recalling its resolution 1987/12 of 26 May 1987,

Recognizing the problems that the present international economic situation causes all countries, in particular the developing countries,

Noting that it is important for all countries, in particular the developing countries, to make optimum economic use of their natural resources in order to strengthen their economic development,

Taking note of the report of the Secretary-General on permanent sovereignty over natural resources,

Taking into account the work done by other organs and organizations of the United Nations system regarding permanent sovereignty over natural resources,

1. Reaffirms the importance of the principle of permanent sovereignty over natural resources;

2. Also reaffirms the importance of the ongoing work of the Commission on Transnational Corporations on a code of conduct on transnational corporations, as it relates to natural resources;

3. Requests the Secretary-General to submit to the Committee on Natural Resources at its twelfth session a concise, updated report on permanent sovereignty over natural resources.